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Altigreen is a leader in Electric Vehicle (EV) technology and solutions for Last Mile Transportation (LMT) through 2, 3 and 4 wheeled vehicles for commercial use.
Basic Information
Founded in 2013, the Bangalore-based startup started off as a technology enabler for electric vehicles. It wanted to create the electric drivetrain for hybrid or fully electric vehicles. Altigreen’s technology is specifically designed for Indian environmental and commercial conditions. Their technology results in EVs that compete in price and performance with Internal Combustion Engine (ICE) vehicles. In its drive towards Carbon Free Transportation, Altigreen’s first focus is on 3W auto-rickshaws for cargo and passengers, a US$ 6 billion market opportunity. The company offers both EV drivetrains and full vehicle assembly to OEMs. Based in Bangalore (India), the Company’s patent portfolio spans over 60 countries with 24 patents granted, including 6 in the US. Global awards received by Altigreen include those from WorldWide Fund for Nature, Niti Aayog, ARAI, Economic Times, Elecrama, IoTNext, IDTechEx and more.
Legal Name
:
Altigreen Propulsion Labs Pvt Ltd
Headquarters
:
Bengaluru, Karnataka, India
Founding Date
:
2013
No. of Employees
:
101 to 150
Core Team
:
1.  
Amitabh Saran
Founder and CEO
2.  
Shalendra Gupta
Co-Founder and CFO
3.  
Lasse Mocklegaard
Co-Founder and CTO
4.  
John Bangura
Co-founder and VP Engineering

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Funding

Total Funding

$39.8M

Investors
:
1.  
Xponentia
2.  
Reliance New Energy
3.  
Sixth Sense Ventures
4.  
Accurant International

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Detail Round Breakdown
Round 1

$39.8M

Series Name
:
SERIES-A
Date
:
11th Feb 2022
Investors
:
1.  
Reliance New Energy
2.  
Accurant International
3.  
Sixth Sense Ventures
4.  
Xponentia

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